McKinsey, a global consulting firm, predicts Indonesia to become the seventh largest global economy by 2030. There are three areas for Indonesia to address to achieve this: to invest in long-term healthcare infrastructure, to modernise the agriculture sector with emphasis
The Ministry of Energy and Mineral Resources (ESDM) has just signed a memorandum of cooperation (MoC) in the energy sector with Azerbaijan in developing the upstream and downstream sectors of oil and gas, as well as renewable energy. The MoC
Digital wallet companies are seeking growth through lending, with some acquiring peer-to-peer companies as part of their growth strategy. Most recently, LinkAja, a digital payment company, acquired iGrow, a peer-to-peer fintech company. Similarly, OVO also partnered with Taralite since 2019
OJK plans to revise its current regulation that will allow fintech lenders to get a licensed status without needing to go through the preliminary “registered” entity status. Despite the reduction in bureaucracy, fintech lenders need to go through a fit
Indonesia’s share of the Sharia fintech market is currently US$2.9 billion (or IDR 41.7 trillion), coming in fifth behind Saudi Arabia, Iran, United Arab Emirates and Malaysia. According to Adrian Gunadi, Chairman of Indonesia Fintech Association (AFPI) and CEO of
Payment gateway fintech company, Xendit, raised Series B funding of US$64.6m (IDR938 billion) last month. The funds will be used to target the MSME sector, as it contributes to over 60% of Indonesia’s GDP and employs the majority of the
MSMEs are optimistic about their businesses as the economy begins to show signs of recovery. This is in line with the BRI-MSME Index (BMSI), which has increased from 81.5 in Q4 2020 to 93.0 in Q1 2021. This is due
Shopee, e-commerce giant, and Jakpat, market research firm, conducted a survey with 1,214 respondents to understand consumer behaviour during the Ramadan fasting month. The results revealed that 80% of respondents surveyed in April used digital wallets for transactions, while 56%
Institute of Development Economics and Finance (Indef) economist, Bhima Yudhistira, stated that State-owned Enterprises (SOEs) play an important role in the absorption of MSME goods. According to Bhima, through the job creation law, the central and local governments have the
During the Leaders Summit on climate, President Jokowi discussed the development of the world’s largest green industrial area in North Kalimantan. As part of Indonesia’s net zero emission pilot programs, Jokowi invites innovation and investment in the country’s energy transition
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